Princes & Beauty Tech Group Boost UK IPOs as London Attracts More Listings
Princes, the UK's leading tinned tuna producer, has announced plans to float on the London Stock Exchange, citing government support and reduced competition from other European markets. The Beauty Tech Group, meanwhile, has successfully priced its IPO at 271 pence per share, with shares rising by up to five per cent on their first day of trading.
Princes' chief executive Simon Harrison has outlined a growth strategy that includes expanding the company's product range and entering the drinks market. The Liverpool-based company aims to use the IPO to fund its M&A ambitions, expand its portfolio, and extend its international reach. The move comes as the UK government's support for capital markets and the reduced appeal of other European markets, partly due to factors like Trump's tariffs, are attracting more companies to London.
Analysts have welcomed the increased IPO activity. Chris Beauchamp, chief market analyst at IG, described the two companies' listings as 'diverse' and 'promising'. Dan Coatsworth, head of markets at AJ Bell, noted investors' keen interest in new stock ideas. Laurence Newman, chief executive of The Beauty Tech Group, described the IPO as 'the perfect platform' for the business to deliver 'sustained and profitable growth'. Potential candidates for upcoming IPOs in the UK include Boots, SumUP, Loveholidays, and Shawbrook, with companies like Idorsia and Oxford Nanopore also considering listings in the coming months.
Princes' and The Beauty Tech Group's IPOs reflect a growing trend of companies choosing London for their listings, drawn by government support and market conditions. With more potential candidates considering IPOs, the UK's capital markets look set to remain vibrant in the coming years.